Barstool Sports Strikes Deal With DraftKings
Sooooo I want to start out this post by saying we were all under the assumption that Barstool Sports was no longer allowed to work with sportsbooks. This, of course, was part of the agreement that Dave Portnoy had to abide by to get his company back. However, it looks like that’s somehow no longer the case. Barstool has agreed to a deal with DraftKings.
VIA Sportico:
“Once again under the ownership of founder Dave Portnoy, the media company is in advanced talks on a wide-ranging sports betting deal with DraftKings, according to multiple people familiar with the negotiations. The deal would be a more traditional marketing partnership, with Barstool promoting DraftKings odds and benefiting from customers referred to the sportsbook. Barstool won’t be lending its name to a sportsbook or betting app.”
“While nothing is yet signed, the talks have centered around a multiyear deal that will pay Barstool in the low eight figures per year, said the people, who were granted anonymity because the details are private. Barstool is unable to finalize a betting deal until after the Super Bowl, because of a lock-up as part of its recent separation from Penn Entertainment, according to the sources.”
Sportico also added that apparently Barstool is allowed to enter the gambling space again for Fall when football season starts back up. That contradicts what we were led to believe from the Penn divorce. Who knows the full story there but DraftKings and Barstool haven’t commented on the deal yet.
Barstool Sportsbook likely will remain dead but the company is back in the gambling space. Plus, it will give Barstool an influx of cash for talent. This deal only makes Penn look like bigger fools for losing that much money investing in Barstool.
